Live updates: Bitcoin holds $62,600 as the Iran conflict reignites and CPI looms
CoinDesk 2026-07-14 06:55:24
Context: Bitcoin's value is holding steady at $62,600 amid rising tensions in the Iran conflict and anticipation of the upcoming Consumer Price Index (CPI) release. The conflict escalation follows Trump's reinstatement of the Hormuz blockade, which has driven oil prices up and increased bets on rate hikes. This development has reversed the "peace trade" that contributed to bitcoin's recovery in early July.
Key Facts
- The Hormuz blockade's reinstatement by Trump has led to an increase in oil prices and a rise in rate-hike bets, reversing the market trends that helped bitcoin recover in early July.
- Bitcoin's current value is $62,600, as investors await the release of today's inflation print, which is expected to provide further market insight.